SOUTHFIELD, Mich., March 17 /PRNewswire/ -- Franklin Bank, N.A. (NASDAQ-NMS: FSVB) announced today that the board of directors declared the payment of a quarterly dividend on its Series A Noncumulative Convertible Preferred Shares. A dividend of $0.225 per share will be paid on April 15, 1993, to preferred shareholders of record as of April 5, 1993.
This is the sixth consecutive dividend paid on Franklin's Series A preferred shares. There are 920,000 preferred shares issued and outstanding. Each share of Series A preferred is convertible into Franklin common stock at a ratio of 1.297 shares of common for each share of preferred.
Franklin's preferred shares are listed and traded on the NASDAQ National Market System under the ticker symbol FSVBP.
Franklin Bank is headquartered in Southfield and primarily serves small to medium-sized business customers and affluent individual customers in southeastern Michigan via three regional branches located in Southfield, Birmingham and Grosse Pointe Woods.
-0- 3/17/93
/CONTACT: Rebecca J. Christian or Lisa Hudy of Franklin Bank, 313-358-1615 or (outside Michigan) 800-356-8910/
(FSVB)

CO: Franklin Bank, N.A. ST: Michigan IN: FIN SU: DIV

ML -- DE025 -- 8963 03/17/93 15:35 EST

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